A recent report reveals that former President Joe Biden is facing significant challenges in raising funds for his presidential library, with the foundation currently holding only $4 million. According to filings from the Internal Revenue Service, Biden’s library foundation has yet to secure any donations in 2024, the last year he served as president. This is far below the anticipated costs associated with constructing a traditional presidential library, which Biden’s aides estimate could reach $200 million.
The library foundation’s financial situation has raised concerns, especially as Biden prepares to host his first public event targeting potential donors on September 25, 2025. Despite efforts to ramp up fundraising, projections suggest that the foundation might raise just over $11 million by the end of 2027. This figure is significantly less than what former presidents typically raise for their libraries.
Biden’s challenge is compounded by reports indicating that some of his loyal donors have not been approached for contributions, while others have expressed reluctance to donate due to dissatisfaction with his legacy or a desire to focus on opposing projects. The foundation declined to comment on its fundraising progress for 2025.
As Biden’s team seeks to invigorate fundraising efforts, they may consider a merger of the presidential library with existing Biden institutions at the University of Delaware, his alma mater. This potential collaboration could allow for a more cost-effective solution, especially considering that the university has already raised over $20 million for a planned extension of the Joseph R. Biden Jr. School of Public Policy and Administration.
The landscape of presidential libraries has evolved significantly over the years. Former President Barack Obama‘s library in Chicago is projected to cost hundreds of millions and will feature amenities such as a basketball court and a vegetable garden. In contrast, Biden’s aspirations for his library to be located in Delaware, coupled with his current fundraising challenges, has prompted discussions about a more modest approach.
While Biden’s aides have not provided clarity on the specifics of the proposed merger, they stated that the team remains in an “exploratory and planning phase.” As the former president works to secure the future of his library, the success of these fundraising efforts will be crucial in determining the scale and vision for the project.
